Troves DeFi Protocol Suffers Attack Resulting in Loss of Approximately 8.6 BTC
Written with artificial intelligence.
On November 1, Troves, a DeFi protocol operating on Starknet, reported a security breach that occurred on October 31, leading to an initial loss of around 8.6 BTC from its xWBTC/WBTC vault. The attack was contained to this vault, and the protocol has taken measures to suspend affected contracts and investigate the breach.
Security Breach at Troves
Troves, a DeFi protocol within the Starknet ecosystem, disclosed that its xWBTC/WBTC vault was exploited on October 31, resulting in an approximate loss of 8.6 BTC. The attack was limited to this specific vault, and other vaults remain unaffected. The vulnerability was traced back to an outdated rebalancing contract that retained permissions despite being replaced.
In response to the incident, the Troves team has revoked the permissions associated with the affected contracts and has proactively suspended operations of the potentially exposed vaults, which include xWBTC/WBTC, xSTRK/STRK, and xstrkBTC/strkBTC.
Troves is actively investigating the incident, tracing the stolen funds, and exploring avenues for recovery. They have also sent an on-chain message to the attacker, offering a reward of 1 WBTC for the return of the remaining funds. The protocol plans to release a detailed post-mortem report and a plan for affected depositors in the near future.